Board of Dopes, LOL
Seriously Mr. Free shares that has to be your dumbest post ever!
Do you even do any research, any at all? I didn't think so, just blab, blab, blab.
The Cannabis wholesale market has seen a price drop of over 50% in the past few years, and you are not happy that Artizen has been able to maintain revenues by cutting expenses, improving operations etc, etc.
They have done a great job in managing the business in difficult times of oversupply and declining prices.
Key Highlights
Gross Profit for the year ending November 30, 2023 totaled $4,890,763 on $15.8 million in revenues, compared to gross profits of $2,724,601 during the same period in 2022.
Gross Margins improved from 17% to 31%, a 182% increase. The improved gross margin reflects increases in production yields and gains in production efficiencies.
Revenues of $15.8 million equal 2022 revenues, achieved in a market that continues to battle over supply and price compression.
Operating Loss for the year ending November 30, 2023 totaled ($460,037), compared to an operating loss of $2,422,916 during the same period in 2022.
Cashflow for the year ending November 30, 2023 totaled $409,507, compared to negative cashflow of ($798,033) during the same period in 2022.
Income Tax liabilities increased due to a materially improved Gross Profit. Under 280e tax treatment, the Company is being taxed on Gross Profit as compared to non-cannabis businesses being taxed on Net Income.
“We continued to increase yields and margins in a market that is still challenged by oversupply and price compression.” said German Burtscher, Pervasip’s President and Chief Executive Officer.
